Saying “I told you so….” is not fun.

I try my best to give clear, concise information so that people can make good decisions when selling. If you book a valuation with us, it’s highly likely we’ll send you a quick guide as to what questions to ask an estate agent on valuation to make sure you get the information you really need.  On valuation, if it’s myself that comes out to see you, I’ll give entirely honest answers to every question and again offer handy hints and tips that will ensure you don’t get stuck in a negative situation that you can’t get out of.

For every 10 people I meet, there is 1 that doesn’t listen.  9 times out of 10, they end up in exactly the situation I really badly wanted them to avoid.

It often goes something like this:

  • Person hasn’t read email guide.
  • I value the property below a mega price another estate agent has claimed they can get.  (We’re very rarely the lowest priced agent as we achieve awesome prices).
  • I advise that I wouldn’t take the property on at that price, but offer REALLY helpful hints and tips to take with them and the other estate agent.
  • The property goes live at an inflated price with terrible marketing.
  • At some point in the near future, owner questions why they’ve not had any viewings and not sold.  Estate agent tells them to lower the price as it’s too high.
  • Owner looks at their contract and realises they have a further 14-18 weeks locked in with the estate agent.  With terrible marketing.

Their options from here are:

1.  Wait it out for over 3-4 months with said estate agent and hope for the best.

2.  Try and persuade agent to improve their marketing (or even improve it themselves on the agents behalf)

3.  Lower the price to match the terrible marketing and take a hit on the sale.
As you can see, neither option 1, 2 or 3 is particularly attractive.  You can avoid this scenario simply by refusing to sign a long sole agency contract.  4 weeks is the absolute max. that anyone should sign.  Even then it’s too long.

As a business, we’ve never once tied a customer in to a sole agency contract and we’re doing okay for ourselves. The contract tie-in is simply as an insurance policy for the estate agent for if you become unhappy with their service and decide to leave.

If you ever have a question or doubt about choosing an estate agent, no matter where you are in the country, feel free to drop me an email. simon@mrgreenhomes.co.uk or give me a call on 01202 387718; I will always help.

Simon Ward
Managing Director
Mr Green Estate Agents.